Alibaba's conjecture of getting involved in retail IoT!RFID Foot Ring Sale

　　Alibaba's conjecture of getting involved in retail IoT

　　Shopping is an important part of daily life. In view of the high demand for the retail industry, from the automation of warehouse operations to the user journey of end consumers, it makes sense for the retail industry to start using the different solutions provided by the Internet of Things. This may be right. Interpretation of new retail from another perspective.

　　Internet of Things, in its most basic understanding, is a network of connected devices embedded with sensors. It allows these devices to communicate, analyze, and share data about the surrounding physical world through cloud-based software platforms and other networks. More than 50% of major retailers around the world have adopted this method and continue to show an upward trend. The application of the retail Internet of Things is in many areas of the industry, including industrial sensors in the manufacturing industry, in-store analytical equipment, and connection systems. These systems integrate online and offline consumer participation.

　　Ali has set foot in the retail IoT field, and you can guess the main application scenarios from the perspective of the retail process.

　　IoT scenario of the retail journey

　　Smart Warehouse

　　The first and probably the most important part, the retail journey is the transportation of supplies from the warehouse to the destination of the product. With product islands, warehouse workers can manually search for each batch of goods. Therefore, a warehouse management system that can track inventory and guide workers to the correct location is also critical to the efficiency of company operations and the efficiency of operating workers.

　　Companies like Datex and Digital Lumens provide system management solutions that can help speed up warehouse operations, optimize space, track inventory, and reduce energy costs. With the help of sensors and RFID technology, these dashboards can provide real-time updates of warehouse inventory and help achieve positive operating procedures.

　　In addition to helping improve employee efficiency, these systems also help reduce energy costs. As Digital Lumens said, "Lighting is essential to the productivity, efficiency and safety of any industrial environment." In non-refrigerated warehouses, 34% of the end-use electricity comes from lighting. With smart LED devices and lighting controls, these facilities can reduce energy costs by up to 90%. Helping the environment and saving money in this process are obvious.

　　Smart Store

　　Using smart retail tags, retail stores can use RFID technology to "improve pricing accuracy, inventory management and consumer marketing." They can inject more effective ways to update the back-end database in their operations. Retail companies can reduce "spot" incidents, improve operational efficiency and management, and increase customer satisfaction.

　　Smart Buyer App

　　The third and final part of this journey is the goods purchased by the end consumer. When Amazon launched a cash-free smart grocery store last year, it raised the bar very high. Using cameras, beacons, and RFID readers, the system is able to recognize when users pick up items and add them to the shopping cart.

　　Amazon Go application is a good example of retail IoT applications. Before entering the store, users can download the app and link to their existing Amazon account. To enter the store, shoppers simply scan their mobile phones and they are ready to shop. Once shoppers get what they need, they walk out with shopping bags. It's hard not to see the value of such a customer experience. This method can improve the feeling of customers when they leave the store. It allows tracking the journey of customers across the online/offline boundary. They never really left the "retail store" and brought it home.

　　What does the Internet of Things bring to the retail industry?

　　Retailers have reaped rewards from the successful application of IoT applications. The following are some of the benefits that IoT applications bring to the retail industry:

　　Strengthening of supply chain management

　　IoT solutions like RFID tags and GPS sensors can be used by retailers to fully understand the entire process of goods from production to storage to consumer purchase. The collected information can be analyzed in real time, such as the time spent in transportation, the temperature of product storage, and so on. These data have proven to be helpful, especially in the transportation of perishable products, where the storage temperature is critical. Some experts say that about three-quarters of retailers plan to modernize their supply chain management through IoT solutions.

　　Better customer service

　　The Internet of Things also helps brick-and-mortar retailers understand customer data and at the same time provides opportunities to use this data. For example, retailer IoT applications can integrate data from video surveillance cameras, mobile devices, and social media sites to allow merchants to better predict customer behavior. 80% of retail stores admit that the Internet of Things has improved the overall customer experience and increased business efficiency.

　　Smarter inventory management

　　Inventory management is a headache. Lack of accurate inventory tracking can lead to out-of-stocks and excess inventory, causing billions of dollars in losses to retailers every year. The Internet of Things can solve these problems through automated inventory visibility. With smart inventory management solutions based on store shelves, sensors, RFID tags, beacons, video surveillance, and digital price tags, retail companies can strengthen procurement planning. When the product inventory is low, the system will re-order a sufficient number of products based on the analysis data obtained from the Internet of Things data.

　　Automatic checkout

　　Checkout is the most labor-intensive and unpopular process for customers. If the checkout line is too long, many people leave without buying anything, which will cause loss of profits. To prevent customers from leaving without shopping, retailers can use IoT solutions to automate the point of sale (PoS) system. When the customer leaves the store, the automatic order can read the label on each product and automatically charge through the mobile payment application.

　　Pedestrian flow monitoring

　　In a small store, the weekly traffic can check several retailers in order to understand the entire shopping process. In a smart store, you can use video-based foot traffic to see if customers are more resident in a certain product area than others. Then, the assistant can be instructed to help the customer in real time, or to check the information later in order to adjust the layout of the store to access customers more efficiently. In addition, by observing store traffic and customer needs in real time, the existing in-store shopping experience can be customized.

　　Equipment maintenance forecast

　　Equipment predictive maintenance is used for energy management, equipment failure estimation, and prevention before other problems occur. For example, every grocery store has many complex equipment, such as refrigeration equipment and HVAC systems. When sensors are installed in these devices, maintenance problems can be predicted, which may affect the savings in power consumption, and even monitor temperature fluctuations to ensure food safety.

　　demand warning warehouse

　　Warehouse demand warning is about the demand for stores and online shopping driven by warehouse automation. The Internet of Things allows real-time monitoring of sales and opportunities. It even allows tracking of missed in-store sales. It should be noted that RFID is a well-tested part of the Internet of Things, and it can be used for more precise service level optimization and inventory management. With the power of technology, the future warehouse will be an open space, and automatic pallets will self-organize according to real-time needs.

　　Intelligent process implementation

　　In the retail industry, transporting goods more efficiently is a major goal. The Internet of Things can play an important role in maintaining transportation, tracking, and route optimization. Of course, many retailers have used GPS for many years to track the route of goods transportation, but through the Internet of Things, it is possible to more accurately understand how close a box is to the store.

　　Challenges and solutions for the application of the Internet of Things in the retail industry

　　infrastructure

　　Most retailers lack the infrastructure and network components required for large amounts of IoT data. In order for merchants to digitize retail stores, they need a powerful network, cloud solution, and end-user solutions, such as barcode scanners, tablets, and mPOS. All of these require a lot of investment.

　　The solution is that when it comes to implementing a new technology, there is no need to overinvest in infrastructure at the same time. You can start with small infrastructure changes, such as using the Internet of Things to manage AC power or lighting, which will bring a more direct return on investment, and then you can gradually become familiar with the Internet of Things solutions.

　　safety

　　Many retailers are very vigilant about the security and privacy issues brought about by the Internet of Things. The introduction of GDPR (General Data Protection Regulation) has strengthened these concerns. Obtaining customer data provides various opportunities for retailers, but it also opens the door to cyberattacks and legal disputes.

　　Retailers should work closely with IoT software developers to ensure that the devices and sensors they use are designed with strong security mechanisms in mind, including basic security passwords, and more advanced security infrastructures, such as end-to-end encryption, on a regular basis Software updates, and actively scan for bugs and vulnerabilities.

　　Data Management

　　Due to the lack of relevant qualifications and professional knowledge, timely and relevant IoT data analysis is a huge challenge for retail companies. From the massive data collected by the Internet of Things, it is impossible to obtain valuable insights without sufficient technical and analytical skills.

　　Retail companies can hire domain experts or rely on third parties with relevant IoT qualifications and training to take over the data management process. By preventing these challenges, retailers have an opportunity to make IoT investments profitable while gaining a competitive advantage in the market. This is also an opportunity for companies such as Alibaba Cloud and Baidu Cloud.

　　summary

　　Implementing IoT solutions can provide retailers with valuable insights. Such a solution can promote a streamlined customer experience while increasing profits. Through typical IoT solutions, retailers are digitizing physical stores, which can bring a huge return on investment, including improving the efficiency of the supply chain, increasing market conversion rates, etc., thereby having the ability to improve customer experience and increase brand loyalty Spend.

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